- Crypto exchange OSL partner with Monsoon Blockchain Solutions in an attempt to further digitization of money and assets.
- Monsoon set to build a digital powerhouse in Asia pacific region as they merge with other big shot investors.
Reports of this unique partnership between the crypto exchange OSL and Monsoon Incorporated have now surfaced. The Hong Kong-based exchange looked to the Blockchain solutions firm to explore new avenues of asset and Fiat digitization.
In a press release by Monsoon, the company plotted out its quest of establishing supremacy within the US and Asian digital assets markets. They are now poised to unleash various digital tokens inclusive of telecom tokens and the Monsoon token to be hosted on their network.
Its underlying Blockchain, which is Ethereum-based, aims to leverage smart contracts to build a highly sophisticated market solution for Cloud computing enterprises. Monsoon had previously secured other deals with Alibaba, IBM, and Oracle facilitating distribution of data services.
Monsoon also recently collaborated with the phone retailing giant Dixintong (D. Phone) in a lucrative partnership that brought in $2.5 billion by close of 2019.
OSL is reportedly one of Asia’s biggest exchanges by transactional volume. Specializing in brokerage, custody, and exchange services they process over $1.5 billion in transactions monthly on their platform.
So far, It’s hit $171 billion while projected to hit over $4.4 billion by 2024 through global remittances and transactions on its enterprise solution. In a recent investment from Fidelity Investments, OSL allegedly revealed $8.3 trillion in assets they manage a significant bump from 2018, $6.7 trillion figure.
Monsoon to Soon Join the BSN Network
Monsoon has also announced they will join the recently launched Blockchain-based Service Network (BSN). Launched in April 25th of this year the alliance was already onboarded by China Mobile, China UnionPay, and Red Date Tech and set to commence global operations by June 25th and deployed to over 100 Chinese towns